New York social intelligence startup 4C snags $5M in venture capital
Venture capital firm Jump Capital has awarded $5 million in funding to social intelligence startup 4C, according to The Daily Northwestern.
4C was founded in 2013 by Professor Alok Choudhary of McCormick. The startup uses social media to assist advertisers in targeting clients, the report explained.
Choudhary's company uses an algorithm designed to present buyers the ability to understand how consumers decide which brands to choose. The said algorithm helps advertisers to market their products more effectively to their target audience. According to Choudhary, it took him 20 years of study and research before he developed the tool. He also said that before he applied for the financing, 4C had already established a successful client base, the report detailed.
The startup wants to expand its present offices in New York, Seattle, and Chicago. The company also wants to establish more headquarters in other countries to extend its market reach. 4C plans to use the new capital to develop its product, beef up its sales, and seal partnerships with other firms, The Daily Northwestern reported.